No Fee Overdraft gives you the flexibility to overdraw your account up to $50 on any transaction made with your Varo Visa® Debit Card once you qualify. There are absolutely no fees or interest charges.
Meet both of these requirements to qualify:
Once you qualify, enroll by turning on No Fee Overdraft in the app. See full terms and conditions here.
Get the coverage you need, then repay the overdraft within 30 days from when your balance first goes negative. Repayment is automatically deducted from your next deposit.
Maybe you accidentally overspent at the store, or you were in a pinch at the gas station and needed to fill your car.
An online checking account with No Fee Overdraft up to $50 gives you space in your budget when you need it. If you use the feature at the gas station, it’s best to pay inside at the cashier instead of the pump.
Any questions on No Fee Overdraft? Get answers here.
Applying won’t impact your credit score.
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*Source: Moebs: http://www.moebs.com/news/ctl/details/mid/484/itemid/1463
^Source: NerdWallet: https://www.nerdwallet.com/blog/banking/overdraft-fees-what-banks-charge/
Bank Account Services provided by The Bancorp Bank. Your deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC. The Varo Visa Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.
See the Varo Bank Account and Varo Savings Account Agreement for terms and conditions.